Reservoir Grabs Charter for Ocean Europe for Seismic Conversion

The seismic company Reservoir Exploration Technology ASA has entered into a long term time charter for a newly built DP2 vessel which will be delivered during fourth quarter 2008. 

Ocean Europe will be chartered from Vestland Offshore I AS. The vessel is built by Hayard Solstrand AS, and will be converted to a seismic research vessel. 

The time charter is for a period of seven years, with options of five more.

The vessel will be rigged with state of the art seismic equipment to operate as a shooting vessel for multi component seafloor seismic data acquisition. It will be used for operations RXT4 or RXT5, and as such be part of a dual vessel operation.

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